Amazing opportunity to own five detached homes in a centralized residential area of Canoga Park. This 30,000 sq foot rectangular flat lot includes five detached homes. Each home, of almost 1,000 sq feet, features three bedrooms, one bath with separate meters for all utilities and individual private yards.. Hook-ups for washers and dryers exist in separate rooms, which may potentially be converted into second bathrooms. Ample parking for 18 cars, with six covered spaces, and an excess of green space.
This property is well suited for a huge upside potential. As per LAR1 zoning the buyer may be able to build one additional ADU and a junior ADU to increase total the total rental count to seven. Also, with the proper city permits it may be possible to sub-divide t his property into five lots, each with a main unit, a junior ADU and a larger two-story ADU, which may greatly increase the current CAP rate.
Current rentals total $10,900 monthly for the five current units, with expenses totally approx $24,240 per year. Proforma rent is about $12,000 per month.Offers subject to interior inspections.